I think there's a big problem with this whole comparison here. You're comparing a career which is almost entirely private-sector (programming) to one which is almost entirely public-sector (teaching). Teachers are mostly employed by local governments, after all, so that profession isn't subject to the market forces which affect private-sector jobs.

The reason teachers aren't paid well isn't because there isn't much demand for them, it's because the local governments choose to pay them poorly, and then they wonder why they can't find enough good teachers.

Companies that don't pay programmers handsomely will soon find themselves without programmers (or with really lousy ones), and then they'll go out of business. This doesn't happen with public schools.